Cut your losses and move on.My only hesitation would be if you think you can dramatically raise the rent with a new tenant.

It's about the right processes, in the right order, to create momentum that leads to consistent closings.This type of hands-on environment is not for everyone..but it is for folks who want to dramatically shorten the curve and avoid lots of trial by fire!. 

Imagine how dramatically real estate would drop in the US if our beloved 1031 exchange tax regulation would be eliminated - devastating.

Everybody in trying to make a profit but if there is anything driving the decision (e.g. need to raise funds for another opportunity or need to deploy funds from a sale) it might create the opportunity for creative financing in some fashion.Know the neighborhoods - As you can see from reading on BP, in many cities, things can change dramatically literately block-by-block.

I've found Richmond to be dramatically different market than Oakland.  

Many will learn their cash flow never increases despite rising rents due to dramatic increases in taxes (at least in Texas). 

So whenever I've had a deal with possible continuity of obligation issues, it's a big dramatic fight with underwriting probably about 65% of the time. 

Back in 05 it's NOI was $166,500 and rents have gone up dramatically since then in the area.

Making your home dramatically nicer than everything else around it won't be worth what you're spending on it.

@James Harper One thing to consider is with that many properties on the market is that the quality of the homes vary dramatically.